Bulgarian Govt to Confirm OECD Membership Bid

The Bulgarian government will confirm the country's application for OECD membership before the OECD Secretariat.

The main goal of the Organisation for Economic Co-operation and Development (OECD), which brings together 34 states, is to build strong economies in its member countries, improve efficiency, hone market systems, expand free trade and contribute to development in industrialized as well as developing countries.

The OECD provides a platform compare policy experiences, seek answers to common problems, identify good practices, and co-ordinate domestic and international policies of its members.

The relations between Bulgaria and the OECD intensified in the period after 2000 but they still remain limited.

Bulgaria has an observer status at the Competition Committee and in 2011 the country applied for an observer status at the Statistics Committee of the OECD.

OECD membership will increase confidence in the Bulgarian economy on the part of the international financial community and investors.

It will also strengthen Bulgaria's role as a recognized economy in Southeastern Europe which actively participates in policy formation and the implementation of good practices on a regional level.